TABLE OF CONTENTS The objective of this chapter is to assist the potential owner-manager to review his or her options when considering potential premises, and to understand some of the legal implications of buying, leasing, or renting commercial premises. It will also enable the reader to assess which types of insurance cover he or she should be considering for both premises, and for the business as a whole, including the physical resources other than premises, as the two tend to be interdependent. The size, volume, and extent of physical resources may well predetermine the premises requirements, or conversely, the availability of premises may place limitations on the physical resources which can be utilised. The first part of this chapter is concerned with the processes of identifying the space required for various activities, the most suitable types of premises, their locations, their relative costs, and the legal aspects of acquiring premises. The second part is concerned with associated issues of insurance related to premises, but broadening out into a general overview of different types of insurances and their relevance to the owner-manager.
Well first, just what type of business are you running? A mobile hair-dresser or complimentary therapist, who visits the clients in their homes, may be able to simply work from their own home, with just the need for some small space for storage. A self-employed professional consultant may also be able to do likewise by converting a spare room at home into an...
